An aspiring flagbearer of the New Patriotic Party (NPP), Alan Kwadwo Kyerematen has urged government to exclude individual bondholders from the domestic debt exchange programme.
According to him, the financial sector will face dire consequences should government go contrary to this call.
The deadline for holders to sign up is barely a week away and government is still having talks with such investors.
Mr Kyerematen, however, holds the view individual holders represent a critical part of the economy.
“When they invest money in bonds it’s basically savings because instead of them putting the money under their mattresses they are putting their money in secured instruments.
“If we touch the investments from these venerable groups, we are also making them lose the appetize and the desire for saving and that is the most dangerous thing that could happen to a country,” he said.
The former Trade and Industry Minister recommended that government should focus on finding good terms for institutional holders and halt the debate on whether to include individual holders.
“In my view, having a debate about including individual bondholders and those involved in this collective scheme is creating a platform for very serious negative discourse which could potentially create both domestic and international problems for us,” he said.
Meanwhile, individual bondholders say government should free their bonds from the debt exchange programme following the onboarding of the Ghana Association of Banks (GAB).
Latest Stories
-
Ghanaian students gear up for Robotics World Championship
11 mins -
Political interference makes public sector managers appear incompetent – Dr Manteaw
16 mins -
Police arrest truck driver alleged to have caused train crash
21 mins -
CAF Confederation Cup: Dreams FC depart to Cairo ahead of semis first leg against Zamalek
24 mins -
Liverpool exit Europa League despite 1-0 win over Atalanta
30 mins -
Roma beat Milan to set up Bayer Leverkusen clash in Europa League semis
34 mins -
Mohammed Kudus’ West Ham suffer Europa League elimination
39 mins -
Madam Joyce Oparebea Mintah Addae
53 mins -
Fiscal deficits and debts to remain high over medium term – IMF
1 hour -
Kenyan military chief among 10 people killed in helicopter crash
2 hours -
Insinuating Bagbin is not heeding calls for recall because he is NDC unfounded and unfortunate – Parliament
3 hours -
Ashanti, Nelly are engaged and expecting a baby
4 hours -
New Ghana train on test run involved in accident
4 hours -
World Bank, AfDB partner to provide 300m African’s with electricity access
4 hours -
Ghana wins preliminary ruling in Cassius Mining’s $300m international arbitration
4 hours